Morgan Stanley vs. Moelis (2026 SA NYC)
Just received offers from both MS and Moelis. I was wondering which you guys would take. Thank you for the insights
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MOE is the shittest bank on the street. Avoid unless you want to be doing dirty deeds under the table for Ken Moelis himself (made me give him a sloppy on first day of summer internship (I'm a guy))
Before anyone else repeats the same boutique bullshit seen on other threads:
"more responsibility" just means you will be getting fucked 2x harder and have no semblance of life as you update v100 of a shitco's internal model + multiple process trackers for the same recruiting opps within finance as your less hardo peers at name-brand BBs. You learn more about investing when recruiting for it, IB teaches you process work
"You get to wear a lot of hats" = We're understaffed
Can also speak more re: analyst experience and exits at MS
It's a toss-up whether a team manages one or both of PPT + model & admin, depending on analyst #1's workload. Somewhat better WLB comes from being able to manage how many deals + how much you're doing (e.g., if staffed on a few deals, you can do only ppt and have a very easy week outsourcing to India or also take on the model + dataroom/process docs). Building a CIM ppt, fixing a shitco's internal model that doesn't balance, and sending/tracking 40 process emails a day would take up most of an analyst's week on one deal, which is why BB analysts can reasonably be staffed on more (3-5) significant lives at a time + pitching. Mainly deals around the one-billion range, but MS's corporate strategy (since 2010s Gorman) is to gain leverage on IBD rather than aggressively growing headcount 2-3x like GS / JPM by focusing on headline M&A and lead-left ECM, prioritizing fee value over fee volume.
Outside of the M&A group, exits are more diversified since GE/VC, public equities, and corpdev much prefer industry / strategic work, and about half of a group's analysts will take those top roles. For the remaining handful of analysts, each group has relationships with several different top-tier MFs and lands multiple every year (APO, BX, TPG, etc.). The rest use HHs for interviews with most MF/top MM funds still recruiting after group 1.
Chose to work at an EB similar to Moelis. Pretax income of +$400,000 for two years made more sense to me over GS/MS that pays $260,000 - 300,000 for the same two years. I don't know how much "work life balance" that non-top groups at GS/MS/JPM have, but all the top BB groups seemed to get worked to the bone. Nothing wrong with choosing MS which is a phenomenal brand both inside and outside of finance. However, I doubt that you will have it easier at MS M&A/Menlo type of group known to be the top than at Moelis.
if you want better exit opps I would go for MS, but if you're solely in it for the money or want to be a career banker than maybe Moelis
Moelis.
I dont believe Moelis NY works siginificantly harder than the top groups at MS. You do make more money tho. Exits will be similar if you stay in finance.
MS honestly has much smaller headcount in ib than GS and especially JPM. this is more a matter of junior comp vs junior wlb(even though MS top groups are sweaty, moelis is the only bank ive seen VP/ED level people looking dead while in spd, with multiple closing their eyes and covering their face with their hands. Personally would choose MS because analyst comp diffs are a drop in the bucket long term, exits will be up to you to convert at either of these banks, and unless you need the comp immediately would suggest MS too
Bump
MS if you want better exits for sure
Bud I can see you got dinged for EBs for RX recruiting or whatever but pls stop spreading incorrect information just to shit on EBs if you haven’t even spoke to a single HH. Let alone Moelis, even GHL exits as well as non MS M&A/M&C if the candidate is prepared enough.
https://www.wallstreetoasis.com/forum/investment-banking/ib-rankings-by-placement-per-headhunters-actual-data
Moelis analysts spreading WSO propaganda again while fighting tooth and nail over the 10 MF offers they get per year
Keep in mind that Moelis NY has 36 analysts in their class. MS has 100 in NY. MS west coast class size also bigger than Moelis west coast as well.
Thanks, I don't work at Moelis. This is why I say kids from BBs are generally retarded. I recommend taking an introductory statistics class. The SA class sizes for GS, MS, and Evercore are around 220 (assuming 160 in classics based on the comments at WSO), 120 (will assume 90 on coverage using GS ratio), and 60, respectively. In contrast, PJT, Lazard, and Moelis have class sizes of around 20 (M&A), 30, and 30. Even considering all these kids wanted MF/UMM exits, if you compare the class sizes, the differences are negligible per capita. Furthermore, considering how BBs and MFs were so gung-ho with DEI hires, and considering boutiques have less emphasis on those DEI bs compared to GS/MS filling 80% (or even more likely) with DEI kids, it looks to me if the boutiques are doing better if not as good as GS/MS. If you want a better comparison, there are 90 potential kids at MS coverage gunning for MF/UMM PE while there are 30 at Moelis. Thus, if Moelis had a class size of 90 like MS, the share would be 18% vs 21%, which to your point Moelis has 3% higher MF 'exits'. I can go on why there are more variables that can increase the EB placements higher but will just stop here for simplicity.
If it’s MS M&A take that. Otherwise toss up
choose the one that has the group you see yourself thriving or at least being happy at so you’re not burnt out after two years
truthfully buyside recruiters will look at you either way from both banks, just be able to become an above average analyst relative to group, close some deals, enjoy your saturday and not burn out
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